Williams-Sonoma: Bad Comps, Soft Sales And Another Cut To Guidance

Barclays retail analyst Matthew McClintock’s bearish view of Williams-Sonoma, Inc. WSM was reinforced by the kitchenware and home furnishing company's Q3 report and lowered FY 2016 guidance released Thursday. The analyst maintains an Underweight rating and price target of $40.

Retail Segment Results Broadly Negative

The company saw growth in its West Elm retail segment, but that failed to make up for the challenges seen in its other brands, which saw same store comparables coming back mostly negative, according to McClintock.

Below is a breakdown of those SSS figures in relation to the brands:

• Pottery Barn: (4.6) percent.
• PB Kids: (1.0) percent.
• PB Teen: (10.9) percent.
• West Elm: 12 percent.
• William-Sonoma: 0.1 percent.

At last check, Williams-Sonoma shares were down 1.6 percent on the day at $52.71.